infoTECH News

[December 06, 2012]

Watch for Shares of Intel (INTC) to Approach Resistance at $20.15

Dec 06, 2012 (SmarTrend(R) News Watch via COMTEX) --
Intel (NASDAQ:INTC) has opened bullishly above the pivot of $19.87 today and has reached the first level of resistance at $20.00. Analysts will be watching for a cross of the next upside pivot targets of $20.15 and $20.43.

Potential upside of 17.2% exists for Intel, based on a current level of $20.13 and analysts' average consensus price target of $23.58. Intel shares should first meet resistance at the 50-day moving average (MA) of $21.41 and find additional resistance at the 200-day MA of $25.21.

Intel share prices have moved between a 52-week high of $29.27 and a 52-week low of $19.16 and are now trading 5% above that low price at $20.13 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Intel on August 23rd, 2012 by issuing a Downtrend alert when the shares were trading at $25.26. Since that call, shares of Intel have fallen 21.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com
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